HSBC ( HBC) bankers may be getting a share of a £1billion bonus pool in 2011, reported the United Kingdom daily The Sun on Feb. 1.
The Sun said HSBC's new chairman Douglas Flint revealed the scale of planned bonus payouts under pressure from parliament members. Furthermore, salaries for HSBC bankers were raised by £95 million last year, the report said. Flint revealed that some bankers saw their salaries double, according to The Sun. The report said the chairman rejected notions that raises were implemented as a way to circumvent the disputes on big bonuses at bank. The daily noted that HSBC has never accepted any government bailouts. However, the bank has benefited from government support of the financial sector, the report said.